Obama: Capitalism Has "Never Worked"

He says "trickle-down economics" rather than capitalism, but "trickle-down economics" is merely an argument in favor of capitalism. There is no such thing as "trickle-down economics." There is capitalism, and the argued advantage of it, which is the trickling down of created wealth.

Meanwhile his Suicide Solution Socialism has apparently set the economic world on fire, I guess.

I don't talk about this too often because Monty does such a good job and it's frankly depressing. But Europe is probably going to plunge into something in between a recession or a depression, and may erupt in violence and political disorder.

And Europe is Obama's lodestar. That's where he wants to take us. To the extent we haven't gotten there yet, it's because Americans are soft, lazy bitter clingers who hate other sorts of people (and their politico-economic systems).

So Europe's 60 or 70 year history with socialism is about to end in violent upheavals and misery... and here's this ignoramus saying that it's capitalism which is the proven failure.

As tempting as it is to think not only that the government could supply us all with a comfortable living but also that it should, I’m tempted by something else far more. That “something else” is the Founders’ faith in self-government and voluntary associations in and through civic society. Obama said today “we can’t return” to a “do-it-on-your-own” economy, but what he fails to realize is that, for Americans, it’s not a choice between going it alone and going it with the government. He cited the example of a company — Marvin Windows and Doors — that voluntarily refuses to lay off its employees — but confusedly seemed to think more government involvement would help to proliferate that kind of company. But the CEO himself admits a sense of community inspires his faith in his employees — not any kind of government mandate. That CEO clearly keeps faith with the Founders, who, in the construction of our government, controlled for self-interest, but also admonished citizens to remember moral obligations to others.

Today, the president did sweepingly what he has done patchily for the past few months, did at last what I have long wished he would do. He honestly argued for a welfare state and directly stated his disbelief in trickle-down economics. For once — again, except in a few places — this wasn’t conservative rhetoric to cover up progressive policies. It was progressive rhetoric to promote progressive policies. Nobody who reads this speech should be in doubt as to what he’s selling — but they should think deeply about how much freedom they’re willing to give up to buy it.

We can't return to a "do it yourself" economy?

Jesus God. He's really pretty much making the case for socialism, isn't he?